Can I retire at age 55 with 591,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $591,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$48,804$48,370$47,945$47,531$47,127$46,308
2 years$24,161$23,711$23,274$22,852$22,442$21,619
3 years$15,947$15,495$15,060$14,641$14,238$13,438
4 years$11,841$11,391$10,960$10,548$10,155$9,383
5 years$9,378$8,930$8,505$8,102$7,719$6,978
6 years$7,737$7,292$6,874$6,479$6,108$5,398
7 years$6,565$6,124$5,712$5,327$4,967$4,289
8 years$5,686$5,249$4,844$4,469$4,121$3,474
9 years$5,003$4,571$4,172$3,806$3,470$2,854
10 years$4,457$4,029$3,638$3,281$2,957$2,372
11 years$4,011$3,587$3,202$2,856$2,543$1,988
12 years$3,639$3,219$2,842$2,505$2,204$1,677
13 years$3,324$2,909$2,539$2,211$1,922$1,424
14 years$3,055$2,644$2,281$1,963$1,685$1,214
15 years$2,822$2,416$2,060$1,751$1,483$1,039
16 years$2,618$2,216$1,868$1,567$1,311$892
17 years$2,439$2,041$1,699$1,408$1,162$768
18 years$2,279$1,886$1,551$1,269$1,034$663
19 years$2,137$1,748$1,420$1,147$921$574
20 years$2,009$1,624$1,303$1,039$823$497
21 years$1,893$1,513$1,199$943$736$431
22 years$1,788$1,412$1,105$857$660$374
23 years$1,692$1,321$1,020$781$592$326
24 years$1,604$1,238$944$712$533$283
25 years$1,524$1,161$874$650$479$247
26 years$1,449$1,092$810$594$432$215
27 years$1,381$1,027$753$544$389$188
28 years$1,317$968$700$499$351$164
29 years$1,258$913$651$457$317$143
30 years$1,203$862$606$420$286$125
31 years$1,152$815$565$385$259$109
32 years$1,103$771$528$354$234$95
33 years$1,058$731$493$326$212$83
34 years$1,016$692$460$300$192$73
35 years$976$657$430$276$174$64
36 years$939$623$402$254$158$56
37 years$903$592$377$234$143$49
38 years$870$563$353$216$129$43
39 years$838$535$331$199$117$37
40 years$808$509$310$183$106$33
41 years$779$485$290$169$97$29
42 years$752$461$272$156$88$25
43 years$727$440$256$144$80$22
44 years$702$419$240$133$72$19
45 years$679$400$225$123$66$17
46 years$657$381$212$114$60$15
47 years$635$364$199$105$54$13
48 years$615$347$187$97$49$11
49 years$596$332$176$90$45$10
50 years$577$317$165$83$40$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 55 starting with $591,000, adding $5,294 every year, while hoping to spend $43,023 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 57/22/21 Blend
54$591,000$591,000$591,000$591,000
55$656,743$625,420$616,259$690,196
56$677,954$610,289$591,128$698,465
57$699,888$592,975$563,713$702,406
58$722,571$573,326$533,891$705,760
59$746,033$551,179$501,537$708,481
60$770,306$526,364$466,516$710,521
61$795,423$498,702$428,690$711,828
62$821,418$468,000$387,913$712,349
63$848,327$434,056$344,032$712,027
64$876,190$396,658$296,891$710,802
65$905,046$355,579$246,322$708,613
66$934,940$310,582$192,152$705,394
67$965,916$261,413$134,202$701,076
68$998,024$207,807$72,282$695,589
69$1,031,315$149,481$6,196$688,856
70$1,065,843$86,140$0$680,798
71$1,101,667$17,470$0$685,749
72$1,138,850$0$0$691,627
73$1,177,456$0$0$710,767
74$1,217,558$0$0$735,048
75$1,259,230$0$0$760,287
76$1,302,553$0$0$786,533
77$1,347,613$0$0$813,841
78$1,394,504$0$0$842,266
79$1,443,326$0$0$871,872
80$1,494,184$0$0$902,724
81$1,547,194$0$0$934,893
82$1,602,481$0$0$968,457
83$1,660,177$0$0$1,003,497
84$1,720,427$0$0$1,040,104
85$1,783,386$0$0$1,078,373
86$1,849,223$0$0$1,118,409
87$1,918,118$0$0$1,160,326
88$1,990,270$0$0$1,204,245
89$2,065,891$0$0$1,250,299
90$2,145,212$0$0$1,298,632
91$2,228,486$0$0$1,349,400
92$2,315,983$0$0$1,402,773
93$2,408,002$0$0$1,458,936
94$2,504,863$0$0$1,518,089
95$2,606,919$0$0$1,580,452
96$2,714,552$0$0$1,646,263
97$2,828,177$0$0$1,715,781
98$2,948,249$0$0$1,789,291
99$3,075,264$0$0$1,867,102
100$3,209,762$0$0$1,949,551